A high test bar has formed at strong support (traditional and fibonacci pivot points). RSI shows the currency is overbought and MACD is turning. Going short, stop loss at 140.25 and TP at 139.50 for 40 pips profit.
A double top is forming on the daily chart. Combined with RSI being in an overbough position. MACD is also turning. Going short, taking profit at 1.100
EUR/JPY has gained some 200 pips over the past 3 days and in my view the bullish pattern will continue. Looking at the weekly chart, support at the pivot point has held. Looking at the shorter timeframes 4H (137.68), 1H (137.66) & 30M (137.66) - all these timeframes has the same support give or take a few pips. I would go long here (137.75), SL at 137.60 (even...
EUR/JPY hitting resistance at 137.00. Taking profit at 136.70
From what can be seen on the daily chart, USDCHF hit resistance at 0.9170 and enters into a short / bearish pattern. RSI is overbought and MACD is turning down TP would be at 0.9110
Its not hard to see - gold has broken previous resistance which now will become support. Next resistance level 1297
Overnight the AUDUSD has bounced off the trend line and now has broken the 9300 resistance / pivot point. I'm going long, taking provit at 9340 for 40 pip gain.
XAU/USD has been going sideways for a few days now. Even after Yellen's speech which saw USD/JPY break the 104 barrier, did not have a major effect on XAU/USD. What does this mean ? XAU/USD found support at 1273 - 1275 which proved to be strong enough to stop the downward spiral. As can be seen from the D1 timeframe, this pair has bottomed out and are ready to...
Gold has beens truggling to break resistance of 1318 for the past couple of days. Support at 1305 and now 1302/1300 has been broken on daily chart. MACD on daily chart is about to cross over - my prediction is that gold will fall to 1278 (TP at 1280 to be safe) SL at 1305
EUR GDP numbers were lower than forecast, but not so much lower. Result would have been a drop in EUR/USD but thats not whats happening. Support has been tested several times and kept up. In my view, this currency has been oversold and has reached bottom. I forecast a bull market, taking profit at 1.3490 (daily chart) or 1.3410 (4hour chart)
GBPUSD hitting resistance with low RSI. Prediction to go long and take profit at 1.7040 to be safe. SL at 1.6990
AUD/JPY is finding support on the pivot point. It should bounce upwards and hit the next resistance level at 96.07